Digital Marketing Analytics – Understand Your Metrics
Digital Marketing Analytics – Why It Is Important To Understand Your Metrics
Do you wish there was an easy way to quickly figure out what’s working, and what’s not, so you didn’t waste your time and money on ineffective marketing tactics? If so, then you’re in the right place, as on this episode we’re going be diving in head first to take on the mistakenly overly complicated world of digital marketing analytics, so you can quickly learn what you need to watch and measure, and what you can leave behind. So here are 5 easy to use and easy understand digital marketing metrics that you can start tracking today.
1: Website VisitorsThe easiest place to start is by taking a look at your website traffic and it’s number of visitors. While this is somewhat of a vanity metric, meaning that it may not directly relate to the bottom line, it is helpful in measuring and tracking how many people are visiting your businesses virtual store front.
2: Bounce RateYour bounce rate is the number of people who visit your site and then quickly leave, or bounce off. Here is where we want to see a low number, as this means that people are sticking around and having more of a look through your content.
3: Number Of Email SubscribersJust like with website visitors, you want to see a steady increase of email subscribers over time. It doesn’t matter what business you’re in, the odds are good that you could benefit by using an email marketing strategy.
4. Click Through Rate (CTR) Your click through rate refers to how many people took action and clicked on one of your posts or advertisements. CTR is a valuable metric to watch anytime you’re creating an ad for any of the social or search engine platforms, as a high click through rate means that what your ad is saying is relevant and interesting enough for someone to want to click and learn more.
5: Lifetime Customer ValueLifetime customer value can be one of the most challenging, but also one of the most valuable metrics to watch and track. While there are a number of pretty fancy and expensive software tools and services out there that can help, even having a rough, general idea of the lifetime value of a customer to your business is still beneficial to your digital marketing campaigns.